Mauritius

New Documents

ESAAMLG Rerates Mauritius for Compliance with One FATF Recommendation

The Eastern and Southern Africa Anti-Money Laundering Group published a follow-up report for Mauritius in connection to the jurisdiction’s anti-money laundering and counterterrorist financing regime.

January 31, 2023

Mauritius Secretariat Announces Amendments to North Korea Sanctions Entries

The National Sanctions Secretariat for the Republic of Mauritius issued a notice concerning updates to the jurisdiction’s sanctions list with respect to North Korea.

August 31, 2022

Mauritius FIU Hosts AML Training Session

March 10, 2022

Mauritius FIU Highlights Customer Due Diligence Requirements of Licensees

January 21, 2022

Mauritius FIU Releases Guidance on Developing AML/CTF Policies

January 21, 2022

News

Midweek Roundup: Former Swedbank Chief Acquitted, Senior FBI Official Secretly Aided Deripaska, and More

Two businessmen charged with hiding yacht’s links to blacklisted oligarch, U.S. regulator fines Popular Bank, and more, in the weekly roundup.

January 25, 2023

Weekly Roundup: Malta Lands on AML Gray List, Global Adoption of Cryptocurrency Standards Falters, and More

Australian lawmakers investigate FIU, Lebanon monitors cross-border transactions by government officials, and more, in the weekly roundup.

June 25, 2021

Midweek Roundup: Western Union Ends Cuban Remittances, Airbnb Faces US Sanctions Fine, and More

November 18, 2020

Midweek Roundup: Credit Suisse Accuses Employee of Forging Records, Crown Resorts Staff Helped Clients Evade AML Program, and More

September 2, 2020

Midweek Roundup: EBA to Probe Lapses in Supervision of Dos Santos’ Affairs, Global Banks Review Hong Kong Clients’ Political Ties, and More

July 22, 2020

Enforcement Actions

0 Items Found

Key Documents

Mauritius Publishes Updated AML Legislation

December 15, 2011

Mauritius Enacts Amendments to Law Criminalizing Terrorism

August 21, 2007

Mauritius Implements International Convention on Suppression of Terrorism Financing

September 16, 2003

Mauritius Releases Updated Act on Prevention of Corruption

August 21, 2007

Mauritius Issues Amended AML Regulations

September 15, 2006

Mauritius Updates Law to Assist Foreign States in Criminal Matters

July 30, 2009

Mauritius Establishes Financial Services Commission for Non-Bank Regulation

August 21, 2007

Important Facts

  • The U.S. State Department identifies Mauritius as a monitored jurisdiction. Laundered funds are primarily derived from the proceeds of drug trafficking, mainly heroin and subutex, a prescription drug that is illegal in Mauritius. Other important predicate money laundering offenses include theft, conspiracy, forgery, swindling, Ponzi schemes and corruption. Drug trafficking organizations and organized criminal groups do not control criminal proceeds laundered in Mauritius. According to recent investigations, money laundering occurs in the banking system, the offshore financial center and the non-bank financial system. Criminal proceeds are derived from both domestic and foreign criminal activities. Mauritius prohibits shell companies, bearer shares and nominee or anonymous directors or trustees. At the end of 2015, there were 231 operators in the Mauritius free-trade zone.
  • KYC Covered Entities:  Banks, insurance companies, securities dealers, money changers, foreign exchange dealers, accountants, lawyers, notaries, chartered secretaries, gaming centers, jewelry dealers, property developers and promoters, and estate agents
  • STR Covered Entities:  Banks, insurance companies, securities dealers, money changers, foreign exchange dealers, accountants, lawyers, notaries, chartered secretaries, gaming centers, jewelry dealers, property developers and promoters, and estate agents
  • Enhanced Due Diligence Procedures for PEPs: Foreign: Yes; Domestic: Yes
  • Money Laundering Criminal Prosecutions/Convictions: Prosecutions: 19 (Jan. 1 – Nov. 12, 2015); Convictions: 9 (Jan. 1 – Nov. 12, 2015)
Source: 2016 International Narcotics Control Strategy Report (INCSR)

Rankings

FATF i | 2013 Methodology

Technical Effectiveness
Compliant : 26 High : 0
Largely Compliant : 14 Substantial : 0
Partially Compliant : 0 Moderate : 2
Non-Compliant : 0 Low : 9

Mauritius' technical compliance was re-rated in a Oct. 7, 2021 follow-up report

BASEL i

Rank : 61/110
Score : 5.32/10

TRANSPARENCY INTERNATIONAL i

Rank : 52/179
Score : 53/100

Tax Justice Network i

Rank : 51/133
Score : 72/100